Homewares and sports goods retailer Briscoe Group has reported record sales and profits despite battling significant economic and public health challenges throughout the year.
Unaudited accounts for the full year show sales grew 5.56 per cent to $785.9 million while tax-paid profit is expected to be not less than $88 million.
By segment, the group’s homewares division sales were up by 5.7 per cent while its Rebel Sport chain achieved a 5.2 per cent increase in sales.
Developments and enhancements across its e-commerce platform helped online sales, which contributed 19 per cent of the year’s sales.
Group MD Rod Duke described the result as an “outstanding achievement” by the business amid deteriorating economic factors and soft consumer confidence.
“Part of this year’s success has been our ability to navigate the myriad of negative conditions which destabilised and disrupted retail trade.
“The model we operate continues to be extremely adaptable through these turbulent and trying economic times, providing the capability for the business to be flexible but focused on key deliverables to provide the best possible customer experience,” he said.
“We continue to improve processes through technology and data with a constant focus on balancing sales, gross profit and inventories.”
Final full-year results will be announced on March 15.
- Further reading: Briscoe Group posts sales increase across all categories
